- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
Tanmiyat Group is handing over hundreds of homes to investors in its flagship Living Legends project following connection to Dubai’s electricity and water grid. The Saudi Arabia-based private developer said it has distributed keys to the 184 villas and one tower block that make up phase one of the the development.
The single biggest residential project in the Dubai-land master development, Living Legends was launched in 2006, but was stalled during the financial crisis. Work was restarted in 2012.
“Tanmiyat is delighted to receive confirmation from Dewa that phase one of Living Legends is fully powered up and ready for investors to receive the keys to their dream homes,” said Moham med Bin Odah, CEO of Tan-miyat. “The journey to this point has come with many challenges as we and the rest of the real estate industry faced the property crash and its aftermath.”
The developer said it has completed road and utilities infrastructure, and sold 88 per cent of the project. The second phase is scheduled for handover in the fourth quarter, while the entire community will be ready late next year. The Dh7-billion community features 2,600 apartments in 12 residential towers, 500 villas, a nine-hole golf course, schools, clinics, a shopping mall, a five-star hotel and recreational facilities.
Tanmiyat also said it will reveal details of new projects later this year.
Source: Property Weekly